Harmon Electric Association Inc

Nonprofit profile at a glance

EIN
730274135
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Hollis, OK, USA
Phone
5806883342
Rating confidence
Limited

Official website

Reported finances

Revenue
$12,717,581
Expenses
$12,770,689
Assets
$46,467,989
Liabilities
$34,916,184

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • BURK BULLINGTON (PRESIDENT)
  • LEE SPARKMAN (VICE PRESIDENT)
  • AARON PAXTON (GENERAL MANAGER/CEO)

Highest reported compensation

  • AARON PAXTON (GENERAL MANAGER/CEO): $271,784 total reported compensation
  • TOMMY CASWELL (FOREMAN): $231,013 total reported compensation
  • BRAD WHISENANT (SAFETY MANAGER): $211,367 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide quality and reliable electric service to members of the cooperative.

What it reported doing in 2025

Providing electric energy to our members on a cooperative basis through the allocation of patronage capital. There were 3,669 active services at year end.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 66
  • Accountability: 77
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.4%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 3.64; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 9.9%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.2% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $272K · 13 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $199K reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.